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EXTENSION: China's Foreign Exchange Reserves Strengthened in June

  • Chief Editor:
  • 15:01:15 2018-07-09 / Xinhua
BEIJING, July 9 (Xinhuanet) – China's foreign exchange reserves totaled $ 3.121 billion at the end of June, up 0.05 percent from May, according to data released today. ; hui. Monday by the People's Bank of China, the country's central bank.

The figure beat the market forecast of $ 3.1028 billion after two consecutive months of declines.

The State Administration of Foreign Exchange (AED) attributed the increase in June to a stable currency market in the country, a strong dollar and fluctuating badet prices.

The economy has been stable so far this year and has registered a good growth momentum. Sound economic fundamentals have stabilized market expectations and cross-border capital flows.

The currency regulator said that China seeks to promote structural reform on the supply side, a development focused on innovation and reform. . Its potential for stable economic growth ensures the stability of its currency market.

The DEA cautioned against external uncertainties, especially those from the United States. But it expects the foreign exchange reserve to remain stable overall.

According to the central bank, gold reserves remained unchanged in June, reaching 59.24 million ounces, or $ 74 billion. End

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